China manufacturing PMI for May ahead

SINGAPORE — Shares in Asia-Pacific looked set to kick off the final trading day of May in negative territory, as investors look ahead to the release of China’s official manufacturing Purchasing Managers’ Index for May.

Futures pointed to a higher open for Japanese stocks. The Nikkei futures contract in Chicago was at 29,065 while its counterpart in Osaka was at 29,030. That compared against the Nikkei 225’s last close at 29,149.41.

Japan’s retail sales data for April is expected to be out at around 7:50 a.m. HK/SIN.

Shares in Australia also looked poised to start lower. The SPI futures contract was at 7,181. versus the S&P/ASX 200’s last close at 7,179.50.

Investor focus on Monday will likely be on the upcoming release of Chinese manufacturing activity data for May. The official manufacturing Purchasing Managers’ Index for May is expected to be out at 9:00 a.m. HK/SIN on Monday.

Markets in the U.S. are closed on Monday for a holiday.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.049 after a recent spike to levels above 90.3.

The Japanese yen traded at 109.86 per dollar, after weakening late last week to levels above 110 against the greenback. The Australian dollar changed hands at $0.7712, lower than levels above $0.776 seen last week.

Here’s a look at what’s on tap:

  • Japan: Retail sales data for April at 7:50 a.m. HK/SIN
  • China: Official manufacturing Purchasing Managers’ Index for May at 9:00 a.m. HK/SIN

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